SubscribeWe commit to never sharing or selling your personal information
Any bounce at this point will more likely than not offer another selling opportunity unless of course we were to do something along the lines of breaking above a 50-Day EMA indicator which should offer significant resistance.plunged again during the trading session on Tuesday as we continue to see a lot of negativities around the world.
After all, it looks as if there is going to be a lack of demand due to a recession, and that, of course, is going to cause some issues with pricing. Furthermore, OPEC chose not to cut back on production recently, so therefore it’s likely that we will continue to see oil struggle overall.We are approaching an area where you would expect to see a certain amount of support. The market breaking through that support will end up being a negative situation, opening the possibility of the crude oil market dropping down to the $70 level. The $72.50 level is a minor support level between here and there, so I would anticipate a little bit of noise.
Source: Digital Coin News (digitalcoinnews.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WTI licks its wounds near $77.50 amid fresh challenges to Oil supplies from RussiaWTI crude oil consolidates the biggest daily loss in two weeks by making rounds to $77.50 early Wednesday. In doing so, the black gold also justifies
Source: FXStreetNews - 🏆 14. / 72 Read more »
Oil prices rise after price cap on Russian crude, OPEC+ meetingOil prices edged higher on Tuesday, after a G7 price cap on Russian seaborne oil came into force on Monday on top of a European Union embargo on imports of Russian crude by sea. What a shocker „Russia use oil as a weapon „ , Next headline soon 🫠🤡 Not in Miami GRRRrrr
Source: Reuters - 🏆 2. / 97 Read more »
Oil prices climb after Russian crude sanctions kick inOil rebounded on Tuesday after plunging by more than 3% in the previous session, as the implementation of sanctions on Russian seaborne crude oil eased concerns about oversupply while the relaxing of China's COVID curbs bolstered the demand outlook. Unintended consequences. wow who would have ever thought it would have the opposite effect ! lol 😂 sarcasm Uh. Nope.
Source: Reuters - 🏆 2. / 97 Read more »
Oil prices up after price cap on Russian crude, OPEC+ meetingOil prices edge higher after a G7 price cap on Russian seaborne oil came into force on top of an EU embargo on imports of Russian crude by sea
Source: trtworld - 🏆 101. / 63 Read more »
Oil crisis averted as Russian crude gets cappedA price cap on Russian oil — imposed by U.S. and European allies to try to throttle revenues to Russia — is a reality. LOL we'll see how that works. Delete your account Is this a real headline?
Source: axios - 🏆 302. / 63 Read more »
Boycott and price cap on Russian crude to drive oil pricesThe decision of Saudi-led OPEC+ to stand pat on production won’t move the needle on...
Source: HoustonChron - 🏆 609. / 51 Read more »